{"data":{"id":"us-tx/tex.-finance-code-183.201","jurisdiction":"us-tx","citation":"Tex. Finance Code § 183.201","heading":"LIABILITY OF PARTICIPANTS AND MANAGERS.","body":"(a) Except as provided by Subsection (b), a participant, participant-transferee, or manager of a limited trust association is not liable for a debt, obligation, or liability of the limited trust association, including a debt, obligation, or liability under a judgment, decree, or order of court. A participant, other than a full liability participant, or a manager of a limited trust association is not a proper party to a proceeding by or against a limited trust association unless the object of the proceeding is to enforce the participant's or manager's right against or liability to a limited trust association.\n(b) A full liability participant of a limited trust association is liable under a judgment, decree, or order of court for a debt, obligation, or liability of the limited trust association that accrued during the participation of the full liability participant in the limited trust association and before the full liability participant or a successor in interest filed with the banking commissioner a notice of withdrawal as a full liability participant from the limited trust association. The filed notice of withdrawal is a public record.\nAdded by Acts 1999, 76th Leg., ch. 62, Sec. 7.16(a), eff. Sept. 1, 1999.","path":["FINANCE CODE","TITLE 3. FINANCIAL INSTITUTIONS AND BUSINESSES","SUBTITLE F. TRUST COMPANIES","CHAPTER 183. OWNERSHIP AND MANAGEMENT OF STATE TRUST COMPANY","SUBCHAPTER C. LIMITED TRUST ASSOCIATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/FI/htm/FI.183.htm#183.201","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:13Z","sha256":"d7fdbc435e0716e3b6aa57ceef41ea5d36357156e9f98c2d42dd4f32e675fcad","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-finance-code-183.113","next":"us-tx/tex.-finance-code-183.202"},"notice":"GroundRules: Original legal text. Not legal advice."}